massive snowstorms, such as we've had out west that creates avalanches, it's -- there's going to be some deterioration in service. But

massive snowstorms such as we've had out west that creates avalanches there's going to be some deterioration in service but


we've reorganized and targeted going after parts of the business where we believe our value proposition is very strong.


In sum, just a few weeks into this new year, we are focused and excited for what we expect the year to bring.

in sum just a few weeks into this new year we are focused and excited for what we expect the year to bring


So we don't have any reason now to deviate from this current agreement.

so we don't have any reason now to deviate from this current agreement


of the potential transaction related to the royalties that Klabin pays on certain brands.

of the potential transaction related to the royalties that klabin pays on certain brands


look out there. There's maybe something between nothing and just the 10th quarter long-term view that we'll get our heads around

look out there there's maybe something between nothing and just the tenth quarter long-term view that we'll get our heads around


and that over and above what the market is hiring. We can and will through this experienced

and that over and above what the market is hiring we can and will through this experience


Got it. And you guys have talked a little bit about sort of the security opportunity on the embedded side, but I just wanted to understand, like

got it and you guys have talked a little bit about sort of the security opportunity on the embedded side but i just wanted to understand like


To address this issue, we have been working with the bank and leveraging our position as the largest

to address this issue we have been working with the bank and leveraging our position as the largest


We are meeting with our customer regularly, and senior management at both companies have targeted a resolution before year's end.

we are meeting with our customer regularly and senior management at both companies have targeted a resolution before year's end


a few of our recent new product development efforts allow significant operating efficiencies here, and we will be increasing our focus here as we progress.

a few of our recent new product development efforts allow significant operating efficiencies here and we will be increasing our focus here as we progress


across the board and something that we're looking to address with the price increases that we're implementing effective May 1 as well.

across the board and something that we're looking to address with the price increases that we're implementing effective may 1 as well


While the profitability of this particular investment makes it extraordinary in our experience, the process and approach

while the profitability of this particular investment makes it extraordinary in our experience the process and approach


We continue to be very excited about acquisition opportunities in the primary markets we serve and also in adjacent recreational lifestyle markets.

we continue to be very excited about acquisition opportunities in the primary markets we serve and also in adjacent recreational lifestyle markets


and according to the various demands that we have at the appropriate time, and at an appropriate level, we are going to continue

and according to the various demands that we have at the appropriate time and at an appropriate level we are going to continue


Our Adjacent Services opportunity pipeline increased significantly over the last quarter, and we are seeing

our adjacent services opportunity pipeline increased significantly over the last quarter and we are seeing


We are comfortable that we have the right leaders focused on the right areas and that the organic revenue results will improve as a result of this focus.

we are comfortable that we have the right leaders focused on the right areas and that the organic revenue results will improve as a result of this focus


given our updated outlook that oil prices remain depressed for longer than we had previously anticipated,


with the transaction scheduled to close no later than the first quarter of 2018. In the preliminary proxy related to the transaction,

with the transaction scheduled to close no later than the first quarter of 2018 in its preliminary proxy related to the transaction


In the quick charge segment, there are a number of protocols and approaches in the market to facilitate a higher power transfer.

in the quick charge segment there are a number of protocols and approaches in the market to facilitate a higher power transfer


This was attributable to the weakness in Nigeria, Brazil and the export channel in West LAC, as I discussed earlier.

this was attributable to the weakness in nigeria brazil and the export channel in west lac as i discussed earlier


I think you will definitely get a sense. There's a very rich opportunity set here, and we really have the team to deliver in this moment. So

i think you will definitely get a sense there is a very rich opportunity set here and we really have the team to deliver in this moment so


We use more and more technology and we've brought in more efficiency in doing all these processes,

we use more and more technology and we've brought in more efficiency in doing all these processes


But still, it is in an early phase. So it offers us great flexibility.

but still it is in an early phase so it offers us great flexibility


And there were some new features but also in the existing technology generation.

and there were some new features but also in the existing technology generation


as well as for some of the institutional verticals within nonrisk construction to reflect some of the uneven nature of how we think the 6 months plays out.

as well as for some of the institutional verticals within nonres construction to reflect some of the uneven nature of how we think the next 6 months plays out


from banc-serv Partners this year. And we also did a small acquisition of some technology assets and accounts

from bankserv partners this year and we also did a small acquisition of some technology assets and accounts


the market was a bit choppier at the end of the year, there's no question. So I think the range of outcomes was a bit wider than what we had seen

the market was a bit choppier at the end of the year there's no question so i think the range of outcomes was a bit wider than what we had seen


Once the second ship is delivered, dividends will resume from the travel business into group.

once the second ship is delivered dividends will resume from the travel business into group


We finished formally integrating Leadership Consulting and Culture Shaping and launched a new business, Heidrick Consulting.

we finished formally integrating leadership consulting and culture shaping and launched a new business heidrick consulting


We would like to thank all of the investors who participated in this offering and those who continue to support us today.

we would like to thank all of the investors who participated in this offering and those who continue to support us today


So we end up not ending up with a price for something that didn't have boundaries around it. So that's been going on since Greg has been here.

so we end up not ending up with a price for something that didn't have boundaries around it so that's been going on since greg has been here


The investment in our IT infrastructure builds a more scalable foundation, allows us to automate the growing demands of our business.

the investment in our it infrastructure built a more scalable foundation and allows us to automate the growing demands of our business


at Swift that I believe are excited about the stability that we have added

at swift that i believe are excited about the stability that we have added


although a correlation of our stock chart with the international dry bulk index would lead you to believe that we are similar.


As for the reaction of the patients, I have heard that according to various SNS sources,

as for the reaction of the patients i have heard that according to various sns sources


establishing an organization structure of checks and balances in order to execute the business strategy.


As everyone knows in this industry, the cost of a design is escalating exponentially.

as everyone knows in this industry the cost of a design is escalating exponentially


With that said, as you look forward and you think about combinations of potential immunotherapies or combinations with other therapies,

with that said as you look forward and you think about combinations of potential immunotherapies or combinations with other therapies


But overall, net-net, to answer the question, we feel pretty good about the balance between foreign exchange, pricing and commodity costs.

but overall net-net to answer the question we feel pretty good about the balance between foreign exchange pricing and commodity costs


We continue to take pricing to offset unfavorable foreign exchange as part of our larger effort to improve margin.

we continue to take pricing to offset unfavorable foreign exchange as part of our larger effort to improve margins


That will take some time, and we want to do that diligently and

that will take some time and we want to do that diligently and


Our construction and engineering groups remain committed to working closely with FERC, PA DEP and other regulatory agencies

our construction and engineering groups remain committed to working closely with ferc padep and other regulatory agencies


This concludes today's conference call. You may disconnect your lines. Thank you for participating, and have a pleasant day.

this concludes today's conference call you may disconnect your lines thank you for participating and have a pleasant day


He did all -- he does all the holding of the product. He was super positive. We hired a joint person that

he did all -- he does all the holding of the product he was super positive we hired a joint person that


Regarding people. We are very focused on improving employee engagement and the overall culture at Fred's Pharmacy.

regarding people we are very focused on improving employee engagement and the overall culture at fred's pharmacy


We unveiled our company's new purpose. We inspire healthy habits for real life,

we unveiled our company's new purpose we inspire healthy habits for real life


which demonstrates not only the strength of our cash generation but the efforts of our team to manage capital effectively.


is a continuous length of steel tubing, typically around 2 inches in diameter and up to 30,000 feet in length, which is wound on a reel as we manufacture it.

is a continuous length of steel tubing typically around 2 inches in diameter and up to 30 000 feet in length which is wound on a reel as we manufacture it


and forms and accessories expected to represent approximately 20% of revenue.


And the concern now is a lack of adequate funding to local government agencies to respond to Zika in a comprehensive manner.

and the concern now is a lack of adequate funding to local government agencies to respond to zika in a comprehensive manner


Today's call will contain other non-GAAP financial measures which we believe are important in evaluating the company's performance.

today's call will contain other non-gaap financial measures which we believe are important in evaluating the company's performance


several new community openings coming in California and specifically at Pacific Highlands Ranch down in San Diego.

several new community openings coming in california and specifically at pacific islands ranch down in san diego


I'd like to spend a few minutes updating you on some specific topics of interest as follows.

i'd like to spend a few minutes updating you on some specific topics of interest as follows


we also said the highway broadband backbone,

we also set the highway broadband backbone


This creates another alternative cycle, and sometimes the result is mistaken

this creates another alternative cycle and sometimes the result is mistaken


But also this launching customer will have its advantage because of the, let's say, development that we're doing on details now in this

but also this launching customer will have its advantage because of the let's say development that we're doing on details now in this


further investing in our organization to bring the organization to a next level of competence


which will cause a reported organic growth rate for our lodging segment to be -- potentially be in the low single digits in the fourth quarter.

which will cause the reported organic growth rate for our lodging segment to be potentially be in the low single digits in the fourth quarter


As the proof of our strategy's success continues to mount, we remain confident in our longer-term goal

as the proof of our strategy's success continues to mount we remain confident in our longer-term goal


get a sense of how important this digestion factor is in your own timing of making new acquisitions.

get a sense of how important this suggestion factor is in your own timing of making new acquisitions


This program is part of DARPA's Electronics Resurgence Initiative to develop new computing materials, designs and architectures.

this program is part of darpa's electronics resurgence initiative to develop new computing materials designs and architectures


your question. And the Qudos should not have any impact because all the Qudos have

your question and the quotas should not have any impact because all the quotas have


The company assumes no obligation to update forward-looking statements, information in the press release, the financial highlights deck

the company assumes no obligation to update forward-looking statements information in the press release the financial highlights deck


As such, sometimes, it can be a little tricky reporting our estimated project revenues when oil and gas markets begin showing signs of recovery.

as such sometimes it can be a little tricky reporting our estimated project revenues when oil and gas markets begin showing signs of recovery


Our team is more experienced, diverse and growth oriented and that is reflected in our ability to deliver consistent operating results.

our team is more experienced diverse and growth-oriented and that is reflected in our ability to deliver consistent operating results


For those of you accessing the presentation, which can be downloaded on the website, these can be found on Page 3 of the Q1 highlights presentation.

for those of you accessing the presentation which can be downloaded on the website these can be found on page 3 of the q1 highlights presentation


to start. Is that what I thought I heard you say? What we're saying is that we have mapped out a plan to

to start is that what i thought i heard you say what we're saying is that we have mapped out a plan to


And finally, having terminal in-basin gives us a presence in the basin, where we can market our wellsite solutions.

and finally having terminal in basin gives us a presence in the basin where we can market our well site solutions


So overall, we take confidence as these strong metrics demonstrate the relevance and resilience of our community assets

so overall we take confidence that these strong metrics demonstrate the relevance and resilience of our community assets


at the next auction, but assuming that there is one for the 900, would you also demand that you get the exact same treatment? Of course.

at the next auction assuming that there is one for the 900 would you also demand that you get the exact same treatment of course


Until a couple of quarters ago, the bulk of the demand came from the top 2 providers and we only saw sporadic orders from the other vendors.

until a couple of quarters ago the bulk of the demand came from the top 2 providers and we only saw sporadic orders from the other vendors


can you give a sense of how much you've taken? And what was the main driver other than perhaps customers want

can you give a sense of how much you've taken and what was the main driver other than perhaps customers


At the same time, we've been able to create incentive programs for intermediaries,

at the same time we've been able to create incentive programs for intermediaries


it sounds like the issue is one that may be related to an evaluation tool or something like that rather than


to welcome a minority partner in this regulated company to do even more in the future.


The cloud is accelerating business and as migration strategies take shape, cloud security is top of mind for all organizations.

the cloud is accelerating business and as migration strategies take shape cloud security is top of mind for all organizations


The second piece of the puzzle is the ones that haven't been successful have been revenue-based

the second piece of the puzzle is the ones that haven't been successful have been revenue-based


are closer. And we obviously control our price, and so that's another variable we can use to control margins. And we're very pleased with

are closer and we obviously control our price and so that's another variable we can use to control margins and we're very pleased with


So when we get to 2019, we certainly wouldn't expect to see anything like this. We would expect to see just

so when we get to 2019 we certainly wouldn't expect to see anything like this we would expect to see just a


and, as a result, is expanding school access and reinforcing the unique value proposition of the Horace Mann brand.

and as a result is expanding school access and reinforcing the unique value proposition of the horace mann brand


North Carolina represents our largest share of insured losses from this event with additional losses in South Carolina and Georgia.

north carolina represents our largest share of insured losses from this event with additional losses in south carolina and georgia


We're optimistic that we can accomplish this goal because we are seeing strong growth from some of our highest margin products.

we're optimistic that we can accomplish this goal because we are seeing strong growth from some of our highest margin products


Thank you, ladies and gentlemen. This concludes today's conference. Thank you for participating, and you may now disconnect.

thank you ladies and gentlemen this concludes today's conference thank you for participating and you may now disconnect


The final enabler will be the proposed new reward framework that I referred to a little bit earlier.

the final enabler will be the proposed new reward framework that i referred to a little bit earlier


as weaker, in so far as it is the best quarter in fact for a second quarter in fiber net adds ever.

as weaker in so far as it is the best quarter in fact for a second quarter in fabricante ads ever


building a lot of results from banks in certainly the first half of 2016, but we're going to work hard on signing at least one deal.

building a lot of results from banks in certainly the first half of 2016 but we're going to work hard on signing at least one deal


The large increase in production volume reflects a larger mortgage origination market, driven by lower mortgage rates during the quarter,

the large increase in production volume reflects a larger mortgage origination market driven by lower mortgage rates during the quarter


So that if rates do go up, we actually not only are not impacted negatively but we

so that if rates to go up we actually not only are not impacted negatively but we


Before we begin, I'll remind you that our discussion this morning may contain forward-looking statements that relate to the future performance of the company.

before we begin i'll remind you that our discussion this morning may contain forward-looking statements that relate to the future performance of the company


In terms of revenue, we experienced constant-currency growth with several existing and new clients in the third quarter.

in terms of revenue we experienced constant currency growth with several existing and new clients in the third quarter


probably got started because of that, that have actually morphed into -- they're looking at their network entirely differently and those are

probably got started because of that that have actually morphed into they're looking at their network entirely differently and those are


basically the -- and we are in a certain way because I talked very much about the prices of the other energies

basically the -- we are in a certain way because i talked very much about the prices of the other energies


We expect the full year to be in similar range as a result of the planned Carseland shutdown later on this financial year.

we expect the full year to be in similar range as a result of the planned carlsland shutdown later on this financial year


Please turn to Page 40. This is the status of our International Passenger operations.

please turn to page 40 this is the status of our international passenger operations


So where do we go from there? Would we do something that beefs up our existing positions or fills white spaces

so where do we go from there would we do something that beefs up our existing positions or fills white spaces


We still expect the full year margin to be in the low 3.40s range, which is consistent with our original guidance.

we still expect the full year margin to be in the low 340s range which is consistent with our original guidance


These declines were partially offset by stronger volumes in APAC and EMEA. Like last quarter,

these declines were partially offset by stronger volumes in apac and emea like last quarter


the way the year finished, that really the entire Roofing shipments and Roofing market ran through the finish line and didn't die off in the fourth quarter,

the way the year finished that really the entire roofing shipments and roofing market ran through the finish line and didn't die off in the fourth quarter


As we do, we can grow in every market and successfully integrate our recently acquired assets.

as we do we can grow in every market and successfully integrate our recently acquired assets


We're now fashioning those into service offerings and products that we can bring to markets.

we're now fashioning those into service offerings and products that we can bring to markets


Designed to appeal to the everyday traveler, we've made Wyndham Rewards the most generous and easiest to use program in the industry.

designed to appeal to the everyday traveler we've made wyndham rewards the most generous and easiest to use program in the industry


coupled with the temporary inefficiencies of the Kaikaku, segment operating margins were adversely affected.

coupled with the temporary inefficiencies of the kaikaku segment operating margins were adversely affected


and we do put it in that light. So I mean there was a chunk that was up in Everett, where we did the Kaikaku event.

and we do put it in that light so i mean there was a chunk that was up and in everett where we did the kaikaku event


into that space in a way that companies can create more data storage in smaller spaces.


as I'll get into in a moment. I should first mention that Logistics is a strategic division for us.

as i'll get into a moment i should first mention that logistics is a strategic division for us


Our commitment to maximizing value creation was the key motivating force for the strategic review

our commitment to maximizing value creation was the key motivating force for the strategic review


But offsetting that decline is a category that I referenced in a prior question, Brian, you might have heard it, about

but offsetting that decline is a category that i referenced in a prior question brian you might have heard it about


And we also saw a slight recovery in Asia where Petrochemicals and Syngas sales improved slightly.

and we also saw a slide recovery in asia where petrochemicals and signal sales improved slightly


We see a significant opportunity to improve the patient experience, physician satisfaction and business outcomes.

we see a significant opportunity to improve the patient experience physician satisfaction and business outcomes


I just wanted to know which patients were selected on the basis of their responses before progressing to the subsequent stages

i just want to know which patients were selected on the basis of their responses before progressing to the subsequent stages


We then settle our operating expenses generally with a lag within traditional trade terms.

we then settle our operating expenses generally with a lag within traditional trade terms


and we remain positive on our strategies to produce long-term growth and consistent financial outcomes across our businesses.


And this is where we are launching new products within the shorter time cycle, and this is enabled by our newly

and this is where we are launching new products within the shorter time cycle and this is enabled by our newly


the remainder of the year is expected to be challenging, with further consumer pressure and subdued investment sentiment.

the remainder of the year is expected to be challenging with further consumer pressure and subdued investment sentiment


As I said before, we take a conservative approach in modeling our interest rate sensitivity to any potential Fed rate hikes.

as i've said before we take a conservative approach in modeling our interest rate sensitivity to any potential fed rate hikes


remains full with a number of great opportunities. However, our focus is also on making sure we remain disciplined in our acquisition strategy

remains full with a number of great opportunities however our focus is also on making sure we remain disciplined in our acquisition strategy


Banking services revenue was up more than 6% due to higher seasonal electronic banking transaction volumes.

banking services revenue was up more than 6% due to higher seasonal electronic banking transaction volumes


particularly given current oil prices and this assumes that we do nothing with the rest of the resource base. Now hope from

particularly given current oil prices and this assumes that we do nothing with the rest of the resource base and i hope from


all of which have led to an environment that creates uncertainty despite our efforts to focus on the items we have control over.


very good about the data that we've generated across the program and across genotypes. If you look at our response rates, they're very high

very good about the data that we've generated across the program and across genotypes if you look at our response rates they're very high


sounded like China had worked out some of the early problems with their coal to MEG processes and we're going forward with a number of projects.

sounded like china had worked out some of the early problems with their coal-to-meg processes and were going forward with a number of projects


Reported sales were up just under 2% as organic growth was partially offset by unfavorable exchange.

reported sales were up just under 2% as organic growth was partially offset by unfavorable exchange


with truly global geographic reach and broad-based participation across most categories and price points.


Mike brings a great track record of success plus decades of large-scale financial, operational and e-commerce leadership experience to the team.

mike brings a great track record of success plus decades of large-scale financial operational and e-commerce leadership experience to the team


Once again, we saw the immense promise in connecting customers with amazing small businesses to experience the best their neighborhoods have to offer.

once again we saw the immense promise in connecting customers with amazing small businesses to experience the best their neighborhoods have to offer


We continue to evaluate opportunities to grow the business in additional areas where we can leverage our competitive advantages.

we continue to evaluate opportunities to grow the business in additional areas where we can leverage our competitive advantages


the point where passengers from the airport and from the sea will originate their journey

the point where passengers from the airport and from the city will originate their journey


Our IT transformation effort to position the company to take advantage of new and emerging technologies is just getting underway.

our it transformation effort to position the company to take advantage of new and emerging technologies is just getting underway


and our conclusion that, that would be banking a lot on the fourth quarter, where we just don't have visibility yet.

and our conclusion that that would be banking a lot on the fourth quarter where we just don't have visibility yet


loss on China was several hundred thousand dollars a year. So what we've done is, we moved

loss on china was several hundred thousand dollars a year so what we've done is we've moved


Number one, people who want higher speeds generally want to be more engaged in the Internet than they do and they are. But also they're finding that the experience is better.

number one people who want higher speed generally want to be more engaged in the internet and they do and they are but also they're finding that the experience is better


This will primarily be driven by the construction of an active pharmaceutical ingredient production facility in Clayton, North Carolina.

this will primarily be driven by the construction of an active pharmaceutical ingredient production facility in clayton north carolina


secondary source to some of our Eastern North Dakota markets. So that kind of things about how we think about the Valley Expansion Project.

secondary source to some of our eastern north dakota markets so that kind of thinks about how we think about the valley expansion project


And unfortunately, for us, we scratch our heads with that because we would've liked to have all this done in the backroom and figured out how to solve these things

and unfortunately for us we scratch our heads with that because we would have liked to have all this done in the back room and figured out how to solve these things


almost all of them have never been up close to a railcar before is a similarly big undertaking.

almost all of whom have never been up close to a railcar before is a similarly big undertaking


I talked about the cash flow we've got upcoming over the next couple of years in addition to our existing balance sheet strength.

i talked about the cash flow we've got upcoming over the next couple of years in addition to our existing balance sheet strength


We are committed to further investing in our sales and marketing efforts and related activities in order to increase our sales pipeline.

we are committed to further investing in our sales and marketing efforts and related activities in order to increase our sales pipeline


That said, we're looking forward to sharing a deeper perspective on our strategies and our long-term outlook with you at our December Investor Day.

that said we're looking forward to sharing a deeper perspective on our strategies and our long-term outlook with you at our december investor day


The New Mexico Commission is expected to rule on the settlement later this year, and new rates are expected to go into effect in August.

the new mexico commission is expected to rule on the settlement later this year and new rates are expected to go into effect in august


for total programs at the end of 2018? So in other words, how many new programs are expected to launch this next year

for total programs at the end of 2018 so in other words how many new programs are expected to launch this next year


as I said, we do believe there are market share gain opportunities in those markets where we have a cost advantage.

as i said we do believe there are market share gain opportunities in those markets where we have a cost advantage


that stroke patients be treated at an inpatient rehabilitation facility rather than a skilled nursing facility.


spend, which will come in relating to future new launch projects. I've got 6 new communities that we launch in the second half.

spend which will come in relating to future new launch projects we've got 6 new communities that we launch in the second half


and the ongoing strong growth in over 65s for the Retirement Living business positions us to deliver sustainable growth

and the ongoing strong growth in over 65s for the retirement living business positions us to deliver sustainable growth


we are naturally focusing more on our traditional strengths, which are anchored in short-term trade finance business

we are naturally focusing more on our traditional strengths which are anchored in short-term trade finance business


demands and markets in regions where they have not been active in before. But I would not say it's a market trend.

demands and markets in regions where they have not been active in before but i would not say it's a market trend


We actually feel really good about the continuation of this, Brian, as I said before. First of all, for us, first and foremost, it's really the health category, absolutely

we actually feel really good about the continuation of this brian as i said before first of all for us first and foremost it's really the health category absolutely


to the business. But over the last couple of years, we've definitely been building it out as a stand-alone company. So if we did decide

to the business but over the last couple of years we've definitely been building it out as a stand-alone company so if we did decide


We have to find new ways for distribution. So it's something really depends on the cycle. I will tell you, we do believe where the market is priced today

we have to find new ways for distribution so if something really depends on the cycle i will tell you we do believe where the market is priced today


Can you provide us with some additional granularity on the sequential increases in EBIT for Swift's other non-reportable segments?

can you provide us with some additional granularity on the sequential increases in ebit for swift's other nonreportable segments


and we think at least in part it relates to expression of the different ligands in different systems.


However, well, some of the reasons -- some people don't like flat leases. We're actually okay with them because if you believe that inflation is on the horizon, and we do,

however some of the reasons -- some people don't like flat leases we're actually okay with them because if you believe that inflation is on the horizon and we do


that the number of suppliers raising less price since January is more limited relative to

the number of suppliers raising list price since january is more limited relative to


Another new facility is set up in Brazil to cover the increased capacity needs of South America,

another new facility is set up in brazil to cover the increased capacity needs of south america


Three, we will continue to innovate to grow diversified revenue streams, including new markets

three we will continue to innovate to grow diversified revenue streams including new markets


growing of price of supply those months due to the need to cover peaks of supply

growing our price of supply in those months due to the need to cover peaks of supply


piece of your sales, but it sounds like that is seeing some traction. Can you just speak to the end markets

piece of your sales but it sounds like that is seeing some traction can you just speak to the end markets


We are committed to delivering the 2016 forecast that Dan reviewed even given the difficult conditions we are facing as an industry.

we are committed to delivering the 2016 forecast that dan reviewed even given the difficult conditions we are facing as an industry


follow. That's the expansion of the scope of what we do. And we are going to stick to that strategy

that's the expansion of the scope of what we do and we are going to stick to that strategy


It's about electromagnetic simulation. And you should maybe look at this not as a point solution

it's about electromagnetic simulation and you should maybe look at this not as a point solution


This was primarily due to lower utilization levels from the decrease in volume sold to our large U.S. customer.

this was primarily due to lower utilization levels from the decrease in volumes sold to our large u s customer


you think about the cadence through the rest of the year, we expect earnings in the third quarter will be similar to this second quarter

as you think about the cadence through the rest of the year we expect earnings in the third quarter will be similar to the second quarter


This does conclude today's program. Thank you for your participation. You may disconnect at anytime, and have a great day.

this does conclude today's program thank you for your participation you may disconnect at any time and have a great day


So we're trying to grow the business, obviously, faster, but we're trying to grow the expense and the number of people to service those clients at a

so we're trying to grow the business obviously faster but we're trying to grow the expense and the number of people to service those clients at a


we also have people in place who know intimately what made the company successful in the past and hence know what we are seeking to achieve in the future.


We believe that by listening to our clients and offering tailored products that solve their critical needs,

we believe that by listening to our clients and offering tailored products that solve their critical needs


which we believe will be the first of many more to come over time as we start to bring this important jurisdiction into account.


These high day-ahead prices provided Vistra the opportunity to sell unhedged length at attractive prices during the month of July.

these high day-ahead prices provided vistra the opportunity to sell unhedged length at attractive prices during the month of july


below our companywide pretax income levels as well as lower amortization expense from a portion of the intangible write-downs.

below our company-wide pretax income levels as well as lower amortization expense from a portion of the intangible write-downs


Based on these interactions, we are even more confident in inotersen's potential to address the unmet need of patients

based on these interactions we are even more confident in enertasan's potential to address the unmet need of patients


we developed a completely new store format for avec, including a new brand.

we developed a completely new store format for abec including a new brand


By providing a complete and unified technology strategy to these operators, Trimble can achieve both the special relationship

by providing a complete and unified technology strategy to these operators trimble can achieve both the special relationship


This is classified as a termination fee in the press release and in the table on Page 4 in our supplemental package.

this is classified as a termination fee in the press release and in the table on page 4 in our supplemental package


coming from strong new product and new customer account additions. And finally, consolidation between coatings market participants

coming from strong new product and new customer account additions and finally consolidation between coatings market participants


how that works certainly from a revenue point of view. Would you also expect the type of seasonality that you've seen

how that works certainly from a revenue point of view would you also expect the type of seasonality that you've seen


I'm excited with current customer engagement and quoting activity, and we expect strong, new order bookings

i'm excited with current customer engagement and quoting activity and we expect strong new order bookings


However, due to the episodic nature of our acquisition activity and the unpredictability of when deals will be executed,

however due to the episodic nature of our acquisition activity and the unpredictability of when deals will be executed


will kill me almost if I don't mention that they are very close to being a top 10 country EBIT-wise now,

will kill me almost if i don't mention that they are very close to being a top 10 country ebit-wise now


it's not a bad place to be for the time being. So strong set of numbers from Road, which we are very happy about.

it's not a bad place to be for the time being so strong set of numbers from road which we are very happy about


quick questions. It looks like your operating margins were a lot better, kind of, relative to the rest of the fiscal year here.

quick questions it looks like your operating margins were a lot better kind of relative to the rest of the fiscal year here


in terms of how we manage it. So all those things bode well for our ability to take advantage of

in terms of how we manage it so all those things bode well for our ability to take advantage of


This capability uses our private network that is independent from exposure to the public network.

this capability uses our private network that is independent from exposure to the public network


in that I don't want to say too much about where we are gaining share at the moment. I don't want to give away too much competitive information

in that i don't want to say too much about where we are gaining our share at the moment i don't want to give away too much competitive information


As we all know, we've been in a long economic recovery cycle, et cetera, so we would expect to see exactly what we are seeing in terms of the upward trend. My

as we all know we've been on a long economic recovery cycle et cetera so we would expect to see exactly what we are seeing in terms of the upward trend my


This is in addition to our past option of using an -- at the market offering to issue common equity.

this is in addition to our past option of using an at-the-market offering to issue common equity


Second, we continue to scale our funds and expect improved operating leverage in our business.

second we continue to scale our funds and expect improved operating leverage in our business


but as they grow their user rate, once again, we're willing to go back and renegotiate a per-unit price down if they want to add

but as they grow their user rate once again we're willing to go back and renegotiate a per unit price down if they want to add


So we've been subcontracting it out for years, and it got to the point where when we looked at it hard

so we've been subcontracting it out for years and it got to the point where when we looked at it hard


keep our portfolio in case of a setback or crisis in equity markets without having to

keep our portfolio in case of setback or crisis in equity markets without having to


Roche Group believes the actions taken by Shire to be totally unjust for the patients.

roche group believes the actions taken by shire to be totally unjust for the patients


Services revenue came in slightly lighter than we were expecting as some services projects pushed out due to Q4 holidays.

services revenue came in slightly lighter than we were expecting as some services projects pushed out due to q4 holidays


and also in Business, where we continue to raise customer satisfaction, while undertaking a major business transformation.

and also in business where we continue to raise customer satisfaction while undertaking a major business transformation


I guess I'm asking, could you help frame for us how you see the evolution of Merck's revenue base?

i guess i'm asking could you help frame for us how you see the evolution of merck's revenue base


Bill Brown, our Chief Retail Officer, has been recruiting talent to enhance our production in the small business and middle markets.

bill brown our chief retail officer has been recruiting talent to enhance our production in the small business and middle markets


These factors were partially offset by 130 basis points of higher manufacturing and logistics costs from continued inflation

these factors were partially offset by 130 basis points of higher manufacturing and logistics costs from continued inflation


that it absolutely will impact your -- it does create more complexity in your processes. And it's just something that we have to work through.

that it absolutely will impact your -- it does create more complexity in your processes and that's just something we have to work through


That increased the value of milk in a lot of markets across the world. It's kind of flattened out right now.

that increased the value of milk in a lot of markets across the world it's kind of flattened out right now


We're in discussions with people about doing things down there with that. But one of the big attractive drivers for

we're in discussions with people about doing things down there with that but one of the big attracted drivers for


Thank you. On behalf of our team here at Reliance, I'd like to thank all of you for participating in today's call.

thank you on behalf of our team here at reliance i'd like to thank all of you for participating in today's call


contribution in the first quarter relative to what you'd expect over the course of the year? Or should it be steady over each quarter?

contribution in the first quarter relative to what you'd expect over the course of the year or should it be steady over each quarter


even more in the future. And so panels are really expensive. To do them right, if you're going to do a panel right, it's expensive.

even more in the future and so panels are really expensive to do them right if you're going to do a panel right it's expensive


we had very strong pipelines at NeoGenomics. And we had a number of customers that were starting.

we had very strong pipelines at neogenomics and we had a number of customers that were starting


really is unlike the risk adjustment programs that we have experienced in Medicaid or Medicare.

really is unlike the risk adjustment programs that we have experienced in medicaid or medicare


And in the local regional markets, those regional players don't have the large capacity.

and in the local regional markets those regional players don't have the large capacity


we will work with our growing list of customers, we will buy companies that give us a platform for additional revenue growth,

we will work with our growing list of customers we will buy companies that give us a platform for additional revenue growth


something that might have wide-ranging applications across a number of other industries, not just necessarily

something that might have wide-ranging applications across a number of other industries not just necessarily


We look forward to maintaining this overall momentum. And looking ahead to coming quarters, there are a few key things you should expect to see.

we look forward to maintaining this overall momentum and looking ahead the coming quarters there are a few key things you should expect to see


entry barrier is higher. Difficulty is also greater. If you are not an established player in Taiwan,

entry barrier is higher difficulty is also greater if you are not an established player in taiwan


This government appears to be very serious about addressing the supply issue

this government appears to be very serious about addressing the supply issue


That's what we would like to be, the favorite deliverer in the Benelux, to give you special moments to everyone.

that's what we would like to be the favorite deliverer in the benelux to give you special moments to everyone


as we've been able to accelerate and increase the net savings expected to be realized through our restructuring efforts.

as we have been able to accelerate and increase the net savings expected to be realized through our restructuring efforts


the loan-loss rates that we did when we acquired the company. So that kind of put the provision up

the loan loss rates that we did when we acquired the company so that kind of put the provision up


some of whom were confined to wheelchairs, some still with the ability to walk and the group who had previously been on treatment

some of whom were confined to wheelchairs some still with the ability to walk and a group who had previously been on treatment


There's still a lot of work to be done, but introducing new share classes and responding to evolving regulations is nothing new to us.

there's still a lot of work to be done but introducing new share classes and responding to evolving regulations is nothing new to us


I'm sometimes asked to quantify the total proportion of our semi-related business that comes from servicing the installed base.

i'm sometimes asked to quantify the total proportion of our semi-related business that comes from servicing the installed base


the operators and the teams from what they're doing today. These are businesses that are growing double-digit. You heard me refer to the strong

the operators and the teams from what they're doing today these are businesses that are growing double-digit you heard me refer to the strong


There's been a lot of investor focus this quarter on net interest margin, deposit betas and core revenue growth.

there's been a lot of investor focus this quarter on net interest margin deposit betas and core revenue growth


We continue to plan to invest in this area, and we know, it will expand our ability to compete in the marketplace.

we continue to plan to invest in this area and we know it will expand our ability to compete in the marketplace


this not belong to us and then a judge should approve or should reject

does not belong to us and then a judge should approve or should reject that


new projects in many of the rental properties. The operation of the quarter was very good and we make

new projects in many of the rental properties the operation of the quarter was very good and we made


and expecting the free water level in the field would rise uniformly over time.

and expecting the free water level in the field will rise uniformly over time


The asset masterplan approach that Lawrence outlined earlier is at the heart of defining what shape that investment takes,

the asset master plan approach that lawrence outlined earlier is at the heart of defining what shape that investment takes


as Chris said, it's 5 years ago that we really put our best foot forward in flooring. It was time to do review of this area.

as chris said it was 5 years ago that we really put our best foot forward in flooring it was time to do a review of this area


there may be some, but we would consider that more to be an intra-year number rather than impacting the full year.

there may be some but we would consider that more to be an intra-year number rather than impacting the full year


I also want to note that we have elected to move from rejecting to recovering ethane in the Pinedale and Piceance basins in the fourth quarter.

i also want to note that we have elected to move from rejecting to recovering ethane in the pinedale and pion basins in the fourth quarter


Core price growth was down slightly in the quarter, as we took targeted actions to drive organic volume growth.

core price growth was down slightly in the quarter as we took targeted actions to drive organic volume growth


We're probably competing every other upstream company in United States for hedges. Which is probably why there's a bit of a

we're probably competing with every other upstream company in the united states for hedges which is probably why there's a bit of a


things that we hope to spend a fair amount of time on is to talk about the uniqueness of the Bank of New York Mellon franchise.

one of the things that we hope to spend a fair amount of time on is to talk about the uniqueness of the bank of new york mellon franchise


So assets that we can acquire the business. There's some revenue being generated, and we can manufacture the product in our facility.

so assets that we can acquire the business there's some revenue being generated and we can manufacture the product in our facility


And then my second question is really just going all the way back to what Robert was speaking about.

and then my second question is really just going all the way back to what robert was speaking about


Gross profit for the quarter was also weighed down by increased depreciation expense and 2 unusual nonrecurring charges.

gross profit for the quarter was also weighed down by increased depreciation expense and 2 unusual nonrecurring charges


from both our recent and ongoing operational excellence and margin improvement initiatives and our proposed actions to strengthen our business.


While our systems migration challenges are not fully behind us, we have made progress and continue to focus on addressing open issues.

while our systems migration challenges are not fully behind us we have made progress and continue to focus on addressing open issues


that has now not really evolved since around the end of last year. So

that has now not really evolved since around the end of last year so it's


The decrease in store expenses as a percent of sales was primarily driven by leverage on the strong comp sales growth.

the decrease in store expenses as a percent of sales was primarily driven by leverage on the strong comp sales growth


The guarantee in the new business is very close to 0. So the dilution, I would say, of the in-force brings the overall guarantee down.

the guarantee in the new business is very close to 0 so the dilution i would say of the in-force brings the overall guarantee down


And what can we also do to influence the claims behavior that we're experiencing in a positive way?

and what can we also do to influence the claims behavior that we're experiencing in a positive way


in terms of any thoughts around the price elasticity of demand, so, I mean, just my broad sense is that if you have to get back to your,

in terms of any thoughts around the price elasticity of demand so i mean just my broad sense is that if you have to get back to your


augmented by our suite of CRM applications that do that for them, things like our

augmented by our suite of crm applications that do that for them things like our


that we get for selling the FPSOs and the one Conventional Tanker that we have. And I think that

that we get for selling the fpsos and the one conventional tanker that we have and i think that


With our enhanced credit model in place, new stores are ramping at a slower rate as we closely control credit risk.

with our enhanced credit model in place new stores are ramping at a slower rate as we closely control credit risk


Our business both expanded relationships with current customers and added a number of new accounts in the period.

our business both expanded relationships with current customers and added a number of new accounts in the period


we use them to localize the solutions. But it is true that we would add selected investments,

we use them to localize the solutions but it is true that we would add selected investments


From a structural perspective, as you know, the governments have taken off a lot of the export subsidies that were on corn and things like that, which

from a structural perspective as you know the governments have taken off a lot of the export subsidies that were on corn and things like that which


And so if you think about that and you kind of say the market is very similar to last year in terms of utilization levels. So I would expect

and so if you think about that and you kind of say the market is very similar to last year in terms of utilization levels so i would expect


so we have to make sure that we are -- we maintain stability. At the same time, we have a long horizon.

so we have to make sure that we are -- we maintain stability at the same time we have a long horizon


What needs to happen to make that change or what approvals do you need or decisions you have to make? What moves that up?

what needs to happen to make that change or what approvals do you need or decisions do you have to make what moves that up


will reoccur every 3 to 5 years based on market growth and capacity needs.


This is primarily due to the weaker wholesale propane market fundamentals, a decrease in regional arbitrage opportunities

this is primarily due to the weaker wholesale propane market fundamentals a decrease in regional arbitrage opportunities


For the last 4 days of the quarter and into the third quarter, we had limited ability to ship and invoice customers in many markets.

for the last 4 days of the quarter and into the third quarter we had limited ability to ship and invoice customers in many markets


I'd like to conclude my remarks this morning with an update on our discontinued operation.

i'd like to conclude my remarks this morning with an update on our discontinued operation


compared with last year's adjusted rate, which is in line with the guidance we provided on the last earnings call.

compared with last year's adjusted rate which is in line with the guidance we provided on the last earnings call


our Latin America satellite operations continue to be profitable and generate positive free cash flow.

and our latin america satellite operations continue to be profitable and generate positive free cash flow


including all the things which we've already talked about and John will be covering a little bit more as we go through the business segments.

including all the things which we've already talked about and john will be covering a little bit more as we go through the business segments


as far as underway, you've got what you pitched. So maybe it's a bit different from you there. But if you could give some granularity on whether it becomes

as far as i'm aware you got what you pitched so maybe it's a bit different from you there but if you could give some granularity on whether it becomes


Before I turn the call over to Dr. Wilson, I would like to remind you that today's call will include forward-looking statements based on current expectations.

before i turn the call over to dr wilson i would like to remind you that today's call will include forward-looking statements based on current expectations


is there a change in where you were expecting commercialization of bacteria from a month ago, John?

is there a change in where you were expecting commercialization of bacteria from a month ago john


With the exception of the greater Toronto area and certain parts of greater Vancouver, Canadian residential real estate markets remain affordable.

with the exception of the greater toronto area and certain parts of greater vancouver canadian residential real estate markets remain affordable


Lumber prices were flat through most of January and improved moderately in February in anticipation of the spring building season.

lumber prices were flat through most of january and improved moderately in february in anticipation of the spring building season


that will likely make that number creep up a little bit in the fourth quarter versus the third quarter. But we are definitely seeing another step change

that will likely make that number creep up a little bit in the fourth quarter versus the third quarter but we are definitely seeing another step change


We are meeting and exceeding client needs as evidenced by our profitable growth and the recognition we received.

we are meeting and exceeding client needs as evidenced by our profitable growth and the recognition we received


increase on us, but you can really see the traction that our price increases had in the quarter.

increase on us but you can really see the traction that our price increases had in the quarter


relative to our first quarter numbers and that was at the upper end of our second quarter Capital Markets

relative to our first quarter numbers and that was at the upper end of our second quarter capital markets


And a lot of those initiatives have already fallen through to the bottom line in different areas of the business, so we're feeling good about that.

and a lot of those initiatives have already fallen through to the bottom line in different areas of the business so we're feeling good about that


Now there's a component where you basically -- the company has to teach distributors how to run a business and how to account for profit and loss. I think

now there's a component where you basically the company has to teach distributors how to run a business and how to account for profit and loss i think


Our market outlook over the coming years is positive. We see continued adoption of our products in all of our major markets.

our market outlook over the coming years is positive we see continued adoption of our products in all of our major markets


Our most recent launch encompassed the downtown quarter of Boise with early results exceeding expectations.

our most recent launch encompassed the downtown quarter of boise with early results exceeding expectations


Before we begin, I'd like to remind everyone that many of our comments made today are considered forward-looking statements under federal securities laws.

before we begin i'd like to remind everyone that many of our comments made today are considered forward-looking statements under federal securities laws


These investments will further strengthen our leadership position in India's merchant industrial gases market.

these investments will further strengthen our leadership position in india's merchant industrial gases market


at one point early in the call that you had a little bit of a pickup this quarter. Just trying to understand how you're thinking about that going forward.

at one point earlier in the call that you had a little bit of a pickup this quarter just trying to understand how you're thinking about that going forward


The committee has been meeting each week with Heidrick and has met a number of potential candidates, several of whom the committee remains actively engaged with.

the committee has been meeting each week with heidrick and has met a number of potential candidates several of whom the committee remains actively engaged with


Second, we historically have bought back shares to offset the dilution associated with our employee equity compensation programs.

second we historically have bought back shares to offset the dilution associated with our employee equity compensation programs


you have expressed your concern over the development of Shuanghui in China.

you have expressed your concern over the development of shanghai in china


Storage solution continue to evolve into a major element of our revenue mix

storage solution continue to evolve into a major element of our revenue mix


we don't know -- we don't have any information as to whether this will or won't be implemented. And I certainly haven't heard anything about it myself.

we don't know -- we don't have any information as to whether this will or won't be implemented and i certainly haven't heard anything about it myself


quantify timing more precisely than that. We are assuming that it's dependent on

quantify timing more precisely than that we're assuming that it's dependent on


We are also modifying inventory for customers in order to deal with the changing regulations for LNG fuel stations.

we are also modifying inventory for customers in order to deal with the changing regulations for lng fuel stations


We have corrected these legacy warranty issues and are rebuilding our reputation in the marketplace. We're investing in product development

we have corrected these legacy warranty issues and are rebuilding our reputation in the marketplace we're investing in product development


to put these programs in place because we -- in some cases, we take risk on our ability to go out and contract these things.

to put these programs in place because we -- in some cases we take risk on our ability to go out and contract these things


We find this especially impressive considering that we're growing from such a high base.

we find this especially impressive considering that we're growing from such a high base


The good news is so far we've been able to get the pricing that we've gone after and we will continue to negotiate, obviously,

the good news is so far we've been able to get the pricing that we've gone after and we will continue to negotiate obviously


and market demographics to ensure we are investing the appropriate amount of capital to achieve the highest possible returns.


a great example of organic and disciplined growth that provides value to shareholders, customers and the economy in our service territory.

the great example of organic and disciplined growth that provides value to shareholders customers and the economy in our service territory


we are developing a risk-sharing model that we will be rolling out at the latter part of this year.


what you were saying right there, but just to get a little bit more specific. It looks like private label has picked up market share

what you were saying right there but just to get a little bit more specific it looks like private label has picked up market share


that indirectly we can raise prices because the farmers there, the growers are actually exporting in dollars.

that indirectly we can raise prices because the farmers there the growers are actually exporting in dollars


is clearly going to provide some level of offset to what may be happening in the Class 8 space.

is clearly going to provide some level of offset to what may be happening in the class 8 space


In a world with a lot of uncertainty, one thing is sure, and that is that the world will need much more aluminium in the future.

in a world with a lot of uncertainty one thing is sure and that is that the world will need much more aluminum in the future


So we -- so long as we have competitive races going forward and we don't think the country is going to be any less

so we -- so long as we have competitive races going forward and we don't think the country is going to be any less


Customers have to learn, if I may add, also that the good times of historic low rates

customers have to learn if i may add also that the good times of historic low rates


some further analysis and discussion and we receive production information daily. Ian, would you like to

some further analysis and discussion and we receive production information daily ian would you like to


Importantly, we believe that we have the right playbook to address these issues, and that work is already underway.

importantly we believe that we have the right playbook to address these issues and that work is already underway


I'm going to round off this morning's presentation with an outlook of the industry, including gas policy developments and our strategy.

i'm going to round off this morning's presentation with an outlook of the industry including gas policy developments and our strategy


also involves an additional loss of control for the client. So it's not always an easy decision or an easy discussion to have.

also involves an additional loss of control for the client so it's not always an easy decision or an easy discussion to have


activities in the second half that are going to add to production but we've kind of waded that toward the back end, just to be conservative. So I think that that's

activities in the second half that are going to add to production but we've kind of weighted that toward the back end just to be conservative so i think that that's a


In 2015, we appointed a Global Chief Actuary and added a new Chief Pricing and new Chief Reserving Actuarial positions

in 2015 we appointed a global chief actuary and added a new chief pricing and new chief reserving actuarial positions


But where we struggle is clearly in our Digital Services, and you will see that we come back to that.

but where we struggle is clearly in our digital services and you will see that we come back to that


perhaps there might have even been some lower prices in the second quarter this year versus last year because of the lags you have. I don't know if that played into it. Yes,

perhaps there might have even been some lower prices in the second quarter this year versus last year because of the lags you have i don't know if that played into it


will increase volumes that can compensate some of the market deterioration.


next year, but I was just wondering kind of if you had -- if you could just provide some color on what the cadence of that is over the next few years.

next year but i was just wondering kind of if you had -- if you could just provide some color on what the cadence of that is over the next few years


On the revenue side, we have already started a series of portfolio adjustments for the O2 plan as well as in the Blau area

on the revenue side we have already started a series of portfolio adjustments for the o2 brand as well as in the blauer area


at Swiss Chalet. I'm just wondering if you've had any further thoughts on your promotional tactics and how they're working, et cetera.

at swiss chalet i'm just wondering if you've had any further thought on your promotional tactics and how they're working et cetera


wait as long as that's going to take for them to make it. And so we want to move them out of the portfolio. So -- yes, so I don't think,

wait as long as it's going to take for them to make it and so we want to move them out of the portfolio so yes so i don't think


Okay. And then can you just kind of share with us kind of early take on what you're expecting for

okay and then can you just kind of share with us kind of early take on what you're expecting for


providing excellent service to our clients as we continue to invest in our people, thereby, providing a differentiated service.

providing excellent service to our clients as we continue to invest in our people thereby providing a differentiated service


putting together a program for enterprise relationships and how that's going to work for existing


To the quarter specifically, we continued to do well in small business. That's a particularly important market segment for us.

to the quarter specifically we continue to do well in small business that's a particularly important market segment for us


in the quarter because I think there continues to be benefits in innovation in terms of how these products are performing,

in the quarter because i think there continues to be benefits in innovation in terms of how these products are performing


In the commercial dealers and resellers or VAR market, revenue was up slightly from a year ago while gross profit was down slightly.

in the commercial dealers and resellers or var market revenue was up slightly from a year ago while gross profit was down slightly


The slides can be advanced in the webcast viewer to follow our commentary. We will call out the slide number we are referencing in our remarks.

the slides can be advanced in the webcast viewer to follow our commentary we will call out the slide number we are referencing in our remarks


takes time for those companies to change this mindset because they are very isolated organization at this point in time.

it takes time for those companies to change this mindset because they are very isolated organization at this point in time


we've seen the first signs in '16 of positive net new money coming from the new joiners, but I think it should come through

we've seen the first signs in '16 of positive net new money coming from the new joiners but i think it should come through


Additional information on our hedge positions can be found in our investor presentation and in our information on file with the SEC.

additional information on our hedge positions can be found in our investor presentation and in our information on file with the sec


Thank you. The conference has now ended. Please disconnect your lines at this time, and we thank you for your participation.

thank you the conference has now ended please disconnect your lines at this time and we thank you for your participation


So all of our contracts are predicated on passing through the full U.S. cost of prime.

so all of our contracts are predicated on passing through the full u s cost of prime


and will allow for expansion of physician visits and greater health care professional coverage to reach as many patients as possible.


the first quarter -- off of the fourth quarter, how do you feel going into the new year, I would reiterate strong. We feel very strong confidence in

the first quarter -- off of the fourth quarter how do you feel going into the new year i would reiterate strong we feel very strong confidence in


I'd like to highlight a few of the investments we're making over the next 12 months to support each of our key strategies.

i'd like to highlight a few of the investments we're making over the next 12 months to support each of our key strategies


We will bring in a mining contractor to help us with the transition because it will be a different style of mining from what Obuasi has been about in the past.

we will bring in a mining contractor to help us with the transition because it will be a different style of mining from what obuasi has been about in the past


Our days working capital metrics improved from year-end as we maintained our efficiency gains.

our days' working capital metrics improved from year-end as we maintained our efficiency gains


Now clearly, the mood has changed towards the end of last year and also beginning of this year,

now clearly the mood has changed towards the end of last year and also beginning of this year


These advanced technologies in audit processes are important drivers of our revenue growth in our core recovery audit business.

these advanced technologies and audit processes are important drivers of our revenue growth in our core recovery audit business


Individual provider error rates would have to be more than 50% to get above the old 2% limit.

individual provider error rates would have to be more than 50% to get above the old 2% limit


for the balance of the year as a result, before any other potential adjustments are factored in.

for the balance of the year as a result before any other potential adjustments are factored in


We will now open the floor for questions. And I kindly ask you to please focus on the issues related to

we will now open the floor for questions and i kindly ask you to please focus on the issues related to


Higher wireless equipment and strategic service revenues partially offset declines in legacy services,

higher wireless equipment and strategic service revenues partially offset declines in legacy services


About midway through the period, there was a rise in paper prices, which is not unusual, and we've already significantly recovered.

about midway through the period there was a rise in paper prices which is not unusual and we've already significantly recovered


then a customer who arrives from outside the franchise is new and frankly, from your perspective, a customer who comes across from insurance is new as well.

then a customer who arrives from outside the franchise is new and frankly from your perspective a customer who comes across from insurance is new as well


but they can also instantly see their credit score, understand what drives their score and get monthly updates on that score all for free and all digitally.

but they can also instantly see their credit score understand what drives their score and get monthly updates on that score all for free and all digitally


There's 2 things going on here with services going forward. One is that we are increasing our mix

there's 2 things going on here with services going forward one is that we are increasing our mix


Following our commentary, we hope to answer as many questions as time will allow. If we're not able to get to your question due to time restrictions,

following our commentary we hope to answer as many questions as time will allow if we're not able to get to your question due to time restrictions


We will continue to focus on a mix of technologies to deliver the best customer experience,

we will continue to focus on a mix of technologies to deliver the best customer experience


An extensive search and recruitment process was undertaken. This morning, we announced 4 new appointments.

an extensive search and recruitment process was undertaken this morning we announced 4 new appointments


and lean into the more profitable parts of our portfolio. And we remain committed to our overall strategy,

and lean into the more profitable parts of our portfolio and we remain committed to our overall strategy


and I'm excited by the new product launches like Scentiva and some of these platforms we're creating. So I think when we look at the totality of that,

and i'm excited by the new product launches like sentiva and some of these platforms we're creating so i think when we look at the totality of that


The increase from our previous guidance is due to higher cost resulting from delays on our Rover and Mariner East projects,

the increase from our previous guidance is due to higher costs resulting from delays on our rover and mariner east projects


Up until this quarter, we had achieved 9 consecutive quarters of revenue growth in our domestic drilling operations.

up until this quarter we had achieved 9 consecutive quarters of revenue growth in our domestic drilling operations


working on that right now. And then on the mindset and mindfulness side, it will probably be a combination

working on that right now and then on the mindset and mindfulness side it will probably be a combination


with no likely requirement for an advisory committee meeting and with a PDUFA date in the third quarter of this year.

with no likely requirement for an advisory committee meeting and with a pdufa date in the third quarter of this year


demonstrated unprecedented effectiveness, highly encouraging safety and a potential dosage regimen

demonstrated unprecedented effectiveness highly encouraging safety and a potential dosage regimen


from asset sales and loan repayments. By August, we expect guests will be able to see and book all of our inventory

from asset sales and loan repayments by august we expect guests will be able to see and book all of our inventory


Geographically, we saw a nice acceleration in orders from the Americas and Asia and we added several new dealers in all regions,

geographically we saw a nice acceleration in orders from the americas and asia and we added several new dealers in all regions


these returns will be lumpy and the results through the first 9 months of the year is more than we would expect in a normal annual period.

these returns will be lumpy and the result through the first 9 months of the year is more than we would expect in a normal annual period


So all together, we are quite satisfied with development in Care in, especially, the second half of the year.

so altogether we are quite satisfied with development in care and especially the second half of the year


DAWN, and some of the previous studies that have come out that are contributing to the interest in ischemic treatments that are mechanical based.

don and some of the previous studies that have come out that are contributing to the interest in ischemic treatments that are mechanical based


The cash position allowed us to continue to invest into our infrastructure and into our -- presentation of our brand.

the cash position allowed us to continue to invest into our infrastructure and into our presentation of our brand


or to that point, rather. Some of them may take longer. Some of them may catch a hold sooner. And that's what's going to be sort of the delta

or to that point rather some of them may take longer some of them may catch a hold sooner and that's what's going to be sort of the delta


As a result of this venture, we do expect acquisition volume to increase materially later in 2017 and beyond.

as a result of this venture we do expect acquisition volume to increase materially later in 2017 and beyond


The profit performance of our acquired businesses beat our expectations, generating solid incremental margin contribution.

the profit performance of our acquired businesses beat our expectations generating solid incremental margin contribution


This strategy drives traffic, orders, premium pricing and lead to higher customer satisfaction.

this strategy drives traffic orders premium pricing and leads to higher customer satisfaction


As I mentioned last quarter, we are comfortable at this relative level of operating expense given our current portfolio of businesses.

as i mentioned last quarter we are comfortable at this relative level of operating expense given our current portfolio of businesses


of which the data will also be presented in Q3. So these are very important moments in the history of the company.

of which the data will also be presented in q3 so these are very important moments in the history of the company


more and more people will be involved over time. So I think it has some financial implications going forward.

more and more people will be involved over time so i think it has some financial implications going forward


primarily due to reduced projected domestic earnings, combined with increased projected earnings from our China operations,

primarily due to reduced projected domestic earnings combined with increased projected earnings from our china operations


and our distributor base. So the bias, barring any significant changes in mix or currency, should be to the upside.

and our distributor base so the bias barring any significant changes in mix or currency should be to the upside


For Nutrisystem, our direct business continues to benefit from many drivers, including increased customer activation and engagement.

for nutrisystem our direct business continues to benefit from many drivers including increased customer activation and engagement


many alternatives out there to the bond market and the bank market if I can call it that

many alternatives out there to the bond market and the bank market if i can call it that


While our current Bearing manufacturing business is aligned with GRW through a focus on solving the critical problems

while our current bearing manufacturing business is aligned with grw through a focus on solving the critical problems


These are also highlighted in this morning's press release and are all on track with several already achieved.

these are also highlighted in this morning's press release and are all on track with several already achieved


So, David, our response is the same one we gave in the fourth quarter that we don't think we need to be talking about TiO2 this year.

so david our response is the same one we gave in the fourth quarter that we don't think we need to be talking about tio2 this year


and sometimes, we have higher installation rate, which -- of smaller deals, which makes the number go up.

and sometimes we have higher installation rate which -- of smaller deals which makes the number go up


I don't think it'll have much impact at all. They just need to clarify exactly what they mean by

i don't think it will have much impact at all they just need to clarify exactly what they mean by


Yes. I think that's a solid question. I'm expecting it to follow more of a consistent pattern.

yes i think that's a solid question i'm expecting it to follow more of a consistent pattern


on Premion, I think you were clear on the up revenue guidance excludes political, and I think you've been bullish on Premion from a political perspective, so

on premium i think you were clear on the up revenue guidance excludes political and i think you've been bullish on premium from a political perspective so


and as I always underpin, the fourth quarter is of the essence for the overall results of the group.

and as i always underpin the fourth quarter is of the essence for the overall results of the group


based on the metrics we are seeing, the recovery of the Puerto Rico economy following the storm continues to be steady.

based on the metrics we are seeing the recovery of the puerto rico economy following the storm continues to be steady


The Security Fabric includes software, secure switches and other hardware products and services.

the security fabric includes software secure switches and other hardware products and services


displays the current and trailing 4 quarter trend in revenue and breaks out investment advisory fees by vehicle.

displays the current and trailing 4-quarter trend in revenue and breaks out investment advisory fees by vehicle


From a timing perspective, historically the fourth quarter has always been our biggest quarter on revenue, earnings and cash flow.

from a timing perspective historically the fourth quarter has always been our biggest quarter on revenue earnings and cash flow


combination of volume and also pricing as well as some raw material decline in cost.

a combination of volume and also pricing as well as some raw material decline in cost


This renewal demonstrates the important role that Accretive plays to provide focused and comprehensive RCM solutions

this renewal demonstrates the important role that accretive plays to provide focused and comprehensive rcm solutions


we're delighted with the steps that have been taken so far to put us in a position to place more of this capacity


Management of the free water level has also allowed the TT-21 well down to the south to come back on production

management of the free water level has also allowed the tt21-1 well down to the south to come back on production


So much of this is dependent on what your economic forecast is at the time you implement the standard.

so much of this is dependent on what your economic forecast is at the time you implement the standard


say we've now got the new HR person. We've got John from a commercial point of view who replaced our previous

so we've now got the new hr person we've got john from a commercial point of view who replaced our previous


Our active resource strategies have been completely retooled and are now delivering better investment performance.

our active resource strategies have been completely retooled and are now delivering better investment performance


So that we'll have it in 2017, but we wouldn't necessarily have had it for as many months of 2016 as we would have initially hoped for.

so that we'll have it in 2017 but we wouldn't necessarily have had it for as many months of 2016 as we would have initially hoped for


at this point in time, we continue to lay out the plan, as we have talked about. We are making investment in

at this point in time we continue to lay out the plan as we have talked about we are making investment in


in the quarter to December. So clearly, we will benefit from those higher prices in the current quarter we're in.

in the quarter to december so clearly we will benefit from those higher prices in the current quarter we're in


And if we look at the profitability of group and individually continued insurance,

and if we look at the profitability of group and individually continued insurance


Okay. And would you place those orders at this point in the cycle speculatively? Or would you still stick to having a project tied to it?

okay and would you place those orders at this point in the cycle speculatively or would you still stick to having a project tied to it


The decline in the international gross profit margin was driven by the impact of the discontinued U.K. line of credit product.

the decline in the international gross profit margin was driven by the impact of the discontinued u k line of credit product


Our innovative approach to the claims process has been well-received by our customers and agents and differentiates Heritage from our peers.

our innovative approach to the claims process has been well received by our customers and agents and differentiates heritage from our peers


The order was a positive outcome for Idaho Power and its customers as the commission both granted our request for new customer classes

the order was a positive outcome for idaho power and its customers as the commission both granted our request for new customer classes


Since we're not in the position to try and predict the timing of revenue, that is one of the reasons to be more conservative with our guidance.

since we are not in the position to try and predict the timing of revenue that is one of the reasons to be more conservative with our guidance


While we're pleased with our progress in the year, the opportunity for improvement in surgery is substantial, and much work remains to be done.

while we're pleased with our progress in the year the opportunity for improvement in surgery is substantial and much work remains to be done


They're very nice when it comes to having volume locked in. You don't have to worry about being in the spot market and some kind of

they're very nice when it comes to having volume locked in you don't have to worry about being in the spot market and some kind of


For LPL, the reduction in corporate tax rates will benefit our financial results and Matt will cover this in his remarks.

for lpl the reduction in corporate tax rates will benefit our financial results and matt will cover this in his remarks


others shrink, that only enhances the opportunity we have to take advantage of that. So it's definitely a focus, there's no question about it.

others shrink that only enhances the opportunity we have to take advantage of that so it's definitely a focus there's no question about it


We expect to continue to invest significantly in technology improvements, which includes the substantial overhaul to our core systems.

we expect to continue to invest significantly in technology improvements which includes a substantial overhaul to our core systems


We are excited to execute our retail growth plan and I look forward to sharing our success in the coming quarters.

we are excited to execute our retail growth plan and i look forward to sharing our success in the coming quarters


which is a mature product, but it's strong with the heavy total build rates but, in particular, the build rates of trucks

which is a mature product but it's strong with the heavy total build rates but in particular the build rates of trucks


Our first priority will always be to deliver high-quality care and service to our patients.

our first priority will always be to deliver high-quality care and service to our patients


a confidential undertaking between us and Renova, but if voting rights were an issue, the voting rights would be adjusted automatically.

a confidential undertaking between us and renova but if voting rights were an issue the voting rights would be adjusted automatically


mainly supported by the strong performance of our core Russian market where we continue to enjoy an improving pricing environment,

mainly supported by the strong performance of our core russian market where we continue to enjoy an improving pricing environment


We continue to be excited about this project as it enhances our position on the West Coast and offers several benefits, including

we continue to be excited about this project as it enhances our position on the west coast and offers several benefits including


as well as the new spectrum Band 14, gives us real excited about the ability to serve customers really, really well.

as well as the new spectrum band 14 gives us real excitement about the ability to serve customers really really well


I've been doing this long enough to say that I never had that expectation. And somehow almost every year,

yes i've been doing this long enough to say that i never had that expectation and somehow almost every year


We're not expecting any recovery in industrial capital or maintenance spending at the end of the year in contrast to the typical year-end lift.

we're not expecting any recovery in industrial capital or maintenance spending at the end of the year in contrast to the typical year-end lift


And then they will run those in a single warehouse, see how they like it.

and then they will run those in a single warehouse see how they like it


Against the first quarter, we are very, very excited and optimistic of continued organic growth.

against the first quarter we are very very excited and optimistic of a continued organic growth


and we have enhanced strategies for partnering with our clients that's increasingly more flexible and thoughtful


that would have normally gone to other facilities in the network and start it at Massachusetts. Could you help us to understand kind of

that would have normally gone to other facilities in the network and started at massachusetts could you help us to understand kind of


And so what we decided to do was to take the place where these folks would have the opportunity to have a very strong

and so what we decided to do was to take the place where these folks would have the opportunity to have a very strong


we can't define exactly how the product is being used because most of these procedures are done in an ambulatory environment.


Business is a key national asset in South Africa, and the financial services sector is something we can all be very proud of.

business is a key national asset in south africa and the financial services sector is something we can all be very proud of


Going forward, Virtu's leading proprietary trading technology will power our expanded product and service offering

going forward virtu's leading proprietary trading technology will power our expanded product and service offering


We could not be more excited about the opportunities that lie ahead now that we are operating as one company and one team.

we could not be more excited about the opportunities that lie ahead now that we are operating as one company and one team


if you have the benefit and the bounty of customer information and customer orders, you can be more intelligent. This is exactly what we thought

if you have the benefit and the bounty of customer information and customer orders right you can be more intelligent this is exactly what we thought


And it's a mixture of that type of thing. So that's the source of that context when you hear

and it's a mixture of that type of thing so that's the source of that context when you hear


Before I talk about our third quarter results versus last year, I would like to talk about them versus the expectations we shared with you last quarter.

before i talk about our third quarter results versus last year i would like to talk about them versus the expectations we shared with you last quarter


Utilizing our universal shelf registration statement, we established our second at-the-market common stock offering program

utilizing our universal shelf registration statement we established our second at-the-market common stock offering program


Now moving to our results. We are pleased with our fiscal second quarter results as we saw solid growth in our business.

now moving to our results we are pleased with our fiscal second quarter results as we saw solid growth in our business


One of the reasons why we have not done much over time is that we would still

one of the reasons why we have not done much over time is that we would still


we can increase scalability and are able to react faster to opportunities, doubling the frequency of new releases

we can increase the scalability and are able to react faster to opportunities doubling the frequency of new releases


Great. Thank you, Sharon. We appreciate your interest in Enbridge Partners and thank you for participating on today's conference call. I would like to remind you

great thank you sharon we appreciate your interest in enbridge partners and thank you for participating on today's conference call i would like to remind you


Thank you for your interest in MDU Resources and for taking the time to join us today to discuss our second quarter results.

thank you for your interest in mdu resources and for taking the time to join us today to discuss our second quarter results


And we'll -- as next year develops, we'll certainly add more color to that market to our efforts in that industry.

and we'll -- as next year develops we'll certainly add more color to that market to our efforts in that industry


As you heard from Rubens, the economic and political environment remained relatively volatile in the region during the first months of the year,

as you heard from rubens the economic and political environment remained relatively volatile in the region during the first month of the year


with and without SEMM. So going forward, you can assume that this trend will continue and

with and without same so going forward you can assume that this trend will continue and


The general Industrial market continued to see good demand and distributors are reporting good retail activity and pricing dynamics.

the general industrial market continues to see good demand and distributors are reporting good retail activity and pricing dynamics


and build their sales teams through their social networks. These tools will continue to roll out around the world over the next several quarters.

and build their sales teams through their social networks these tools will continue to roll out around the world over the next several quarters


solidify the thinking of the acute care hospital partners and kind of line us up with them going into next year.


We want to keep them busy. We want to absorb those overheads as best as we can. And what we've seen during quarter 2 is that we've been gradually

we want to keep them busy we want to absorb those overheads as best we can and what we've seen during quarter 2 is that we've been gradually


the Church Management new modules that we've built will fit all sizes of the church.

the church management new modules that we've built will fit all sizes of the church


will be significantly impacted by a road construction project that will kick off in the late first quarter of this year


that's not included in that yet. So if your question is, do we have to go out and aggressively buy a lot to achieve it?

that's not included in that yet so if your question is do we have to go out and aggressively buy a lot to achieve it


This provides the clearest view of the sustainability of our spending and our resilience to commodity price movements.

this provides the clearest view of the sustainability of our spending and our resilience to commodity price movements


From a credit quality standpoint, the portfolio remains sound with a couple of exposures

from a credit quality standpoint the portfolio remains sound with a couple of exposures


our design agility, which is one of our strengths, needs to even be sharper, and we need to continuously reduce lead times

our design agility which is one of our strengths needs to even be sharper and we need to continuously reduce lead times